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Brewin Dolphin's discretionary push is paying off

The fund manager is shifting towards a more stable income stream
July 27, 2016

Shares in Brewin Dolphin (BRW) jumped by as much as 8 per cent after it demonstrated its success in shifting further towards discretionary fund management during its third quarter. Brewin grew its discretionary funds under management, where clients outsource the management of their portfolios, by 3.5 per cent.

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Total funds increased by 2.1 per cent during the quarter to £33bn. The majority of the gains were thanks to a positive investment performance, however the fund manager also achieved £200m net inflows. Management has been trying to switch clients from an advisory service to a discretionary one, since the latter provides a more stable income source.